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The state reinsurer of last resort discussed options for 2025 reinsurance buying strategy. -
The insurer will conduct an audit to ensure “transparency and accountability.”
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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Weiss Ratings has claimed that insurers are short on reserves and deny legitimate claims.
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The loss figure has increased 200% from the initial number provided in October.
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The last time Citizens had fewer than 1 million policies was in 2022.
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The company said Helene claims have surpassed those of Hurricane Ian.
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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
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A total of $2.1bn in Fema money has been approved for the state.
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Heritage’s Q3 combined ratio improved 10.2 points to 100.6% driven by lower losses and expenses.
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The firm will provide an update on November 22 to avoid holiday season.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
